Looking really nice man, all seems pretty smooth! In terms of feedback I have two quick points that you could consider.
The first is that I agree with franktech’s statement about the HUD. I know that this is just WIP but something you should think about later down the line is a unique HUD that sets the style for your game. The design of this can completely change how the game looks and feels for the end user and make your game instantly recognisable from a single screenshot; currently for me it doesn’t fit the world you have created or give your game a distinctive style.
The second is that I love your invisibility and time-warp effects, however I think the rings are maybe a little too obstructive/harsh (maybe a design choice?). I am not sure exactly how it would play out without seeing it, but I would experiment with making these rings slightly wider and feather//fade the edges so that the world appears to be warping rather than shrinking rings on the screen? Like I said I’m just trying to picture this in my head without any evidence in front of me but It’s something to look into!
Besides these suggestions it looks great, keep up the hard work!
P.S. How are you handling the ammo/weapon switching currently? Is the ammo stored in the character controller while the weapons spawn and destroy or are the meshes just hidden and disabled etc? Cheers!